SoFi Bank's rate sheet effective 23 September pays 3.30% APY on savings to holders with an eligible direct deposit or $5,000 of qualifying deposits every 31 days. Its predecessor, effective 28 May, paid 3.10%. Twenty basis points back, landing exactly on the 31 March rate SoFi cut four months ago.
4.50% is the tier that did not move: SoFi Plus, first $20,000 of savings, identical on both sheets. Everything beneath went 3.10% to 3.30%: direct deposit, qualifying deposit, a Plus balance above $20,000. Standard savings held at 0.80%. A new member's 0.90% six-month boost now lands at 4.20%, not yesterday's 4.00%.
Cost is a ceiling, not an estimate: the tier split is not disclosed. Savings deposits were $37.02bn on 30 June, so 0.20% × $37.02bn = $74.0m a year, 2.3% of annualised June-quarter net interest income and a tenth of the $712.6m SoFi says deposit funding saves it against warehouse lines.
SoFi paid 3.22% on average savings balances in the June quarter, when the sheet read 3.30% then 3.10%. Publish the tier split and this ceiling becomes a number.
SoFi Bank rate sheet — 23 September 2026
Rates and tier conditions: SoFi Bank's rate sheets effective 23 September and 28 May 2026. The 0.90% boost and its terms: SoFi's advertising disclaimer, not those sheets. Savings deposits, net interest income, the rate paid on savings and the $712.6m are SoFi's own. The annualisation and the ceiling are ours, bounds because no tier split is disclosed.
